behind in mortgage - now what?

[Anonymous]

we need help. i was laid off for about 10 weeks and since we live paycheck to paycheck, we fell behind about 3 months. no hope at this time of getting extra money to get caught up. what should we do?? just glad i dont have life insurance on myself, if i did, problem solved and the family would be set.

[Anonymous]

Sell your house and start to rent? Housing market is hot so it shouldn't be hard to sell.

[Anonymous]

Call the mortgage company ASAP (yesterday would have been better) and talk to them. Loss of employment is not unusual and some have programs that will help you get caught up or possibly even refinance to a lower monthly payment. But you need to do it before you fall any farther behind.

[Anonymous]

Anonymous wrote:Call the mortgage company ASAP (yesterday would have been better) and talk to them. Loss of employment is not unusual and some have programs that will help you get caught up or possibly even refinance to a lower monthly payment. But you need to do it before you fall any farther behind.

PP again. And to give you an idea how close you are...many of these programs you have to apply or get started with 90 days of when you first miss a payment. You don't have much time left, so call first thing tomorrow morning.

[Anonymous]

Yes call them asap.Hope they can help.
I got behind a few years ago.Called WF and was told they will try to qualify me for Hamp program.After 6 months of calling and sending paperwork and waiting, I'm suddenly told that they are going to sell my house on auction.I was floored-I wasn't underwater and nobody told me the I hadn't qualified to the Hamp program.I did get the letter apologizing for the late notice about not qualifying for Hamp.
The balance had been sent to a collection company and it had bunch of fees tacked on it.I paid off the 9k to save the ca 40k in equity I had.
I pissed at myself for believing that somebody was working on my program.All I can think is that WF was overwhelmed with the applications.I got to talk to the lady working on my case only once.I mailed the paperwork, faxed it in,call them, I thought I did it all...I had 15 year mortgage,wasn't underwater and I was 35.I offered to pay extra $400 'til I catch up.All fell on death ears.I had a mortgage in Europe once, took me 2 emails and 1000 euros to refinance it(probably because they didn't sell the loan).
Wf and group of other banks were sued. I should've joined the lawsuit, but felt like it might be a scam.
Still, call them.Hopefully they have time for you now that the biggest foreclosure wave is over.

[Anonymous]

Anonymous wrote:Yes call them asap.Hope they can help.
I got behind a few years ago.Called WF and was told they will try to qualify me for Hamp program.After 6 months of calling and sending paperwork and waiting, I'm suddenly told that they are going to sell my house on auction.I was floored-I wasn't underwater and nobody told me the I hadn't qualified to the Hamp program.I did get the letter apologizing for the late notice about not qualifying for Hamp.
The balance had been sent to a collection company and it had bunch of fees tacked on it.I paid off the 9k to save the ca 40k in equity I had.
I pissed at myself for believing that somebody was working on my program.All I can think is that WF was overwhelmed with the applications.I got to talk to the lady working on my case only once.I mailed the paperwork, faxed it in,call them, I thought I did it all...I had 15 year mortgage,wasn't underwater and I was 35.I offered to pay extra $400 'til I catch up.All fell on death ears.I had a mortgage in Europe once, took me 2 emails and 1000 euros to refinance it(probably because they didn't sell the loan).
Wf and group of other banks were sued. I should've joined the lawsuit, but felt like it might be a scam.
Still, call them.Hopefully they have time for you now that the biggest foreclosure wave is over.

Just curious, do you mean the HARP (Home Affordable Refinance Program)? Or is there a program called Hamp that I'm unfamiliar with?

[Anonymous]

The moment you get a job call them and ask to add the amount you are behind to the principal. It will immediately stop late fees and bring you current.

[Anonymous]

HAMP is the modification program (hence the "m") for borrowers in distress.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes call them asap.Hope they can help.
I got behind a few years ago.Called WF and was told they will try to qualify me for Hamp program.After 6 months of calling and sending paperwork and waiting, I'm suddenly told that they are going to sell my house on auction.I was floored-I wasn't underwater and nobody told me the I hadn't qualified to the Hamp program.I did get the letter apologizing for the late notice about not qualifying for Hamp.
The balance had been sent to a collection company and it had bunch of fees tacked on it.I paid off the 9k to save the ca 40k in equity I had.
I pissed at myself for believing that somebody was working on my program.All I can think is that WF was overwhelmed with the applications.I got to talk to the lady working on my case only once.I mailed the paperwork, faxed it in,call them, I thought I did it all...I had 15 year mortgage,wasn't underwater and I was 35.I offered to pay extra $400 'til I catch up.All fell on death ears.I had a mortgage in Europe once, took me 2 emails and 1000 euros to refinance it(probably because they didn't sell the loan).
Wf and group of other banks were sued. I should've joined the lawsuit, but felt like it might be a scam.
Still, call them.Hopefully they have time for you now that the biggest foreclosure wave is over.

Is WF Wells Fargo? They are a joke. All the employees have their heads up their asses

Just curious, do you mean the HARP (Home Affordable Refinance Program)? Or is there a program called Hamp that I'm unfamiliar with?

[Anonymous]

Call your mortgage company!!!

I had been paying my mortgage okay, until my job went from full time to part time and then I started having problems paying full payments, like $100-400 short on a few payments. Then all of a sudden one day (like 7 months later) they tell me I hadnt paid the Feb 2012 mortgage and I was like WTF you telling me? no way. So of course i ended up with late fees, etc because technically i was late on every payment. Fast forward to October and I lost my job altogether. I waited until may i think? I know I waited a LONG time, but I was paying my mortgage payments pretty much on time but still had this big balance looming over our head (like $6000-7000). I avoided the mortgage company like the plague but knew I couldnt do it much longer.

When I called, I got THE nicest person on the phone. We talked and I was told about loan modifications that included getting my loan amount adjusted for 6 months and reevaluated down the line to see if I need another 6 months. Not only that but they did some kind of a deferment for us, meaning the overdue/fees/interest/etc was bumped to the end of our loan. I am finally able to make my payments online again and can see that our balance is now current amount due. The overdue amount has been wiped clean so the day we can pay the normal payment, that overdue amount will not be on there anymore. THAT is the main thing I needed to happen because I was SO stressed, thinking we'd lose the house.

Call first thing Monday!!!

[Anonymous]

thanks for the tips. i called today, ended up faxing about 20 pages of info and forms, will call to see what happens next.

[Anonymous]

00:08 pp here. Yay!! Feels like you have to give them your life story just to get something done!!!

Come back and let us know what happens!!! I hope they are able to help you.

[Anonymous]

Anonymous wrote:thanks for the tips. i called today, ended up faxing about 20 pages of info and forms, will call to see what happens next.

Glad you did it. Really, it is in their best interest to find a way to get you back to paying regularly at a rate you can afford. A mortgage company really does not want foreclosures or short sales which lose them money. If they can find way to roll the money back into your loan with you still making your monthly payments, it's a win-win for everyone.

Good luck.

[Anonymous]

NP here: this was an excellent snark-free, troll-free forum that helped someone. You all told me stuff I didn't know. Glad I read it. Thanks, everybody! You've made my day.